Investors urged to star in Saudi cinema revolution

Twenty seven new movie theatres are scheduled to open in the kingdom this year
Investors urged to star in Saudi cinema revolution
Saudi cinemas were in third place for ticket sales in the Middle East during the second quarter of 2019.
By Staff writer
Sun 28 Jul 2019 02:51 PM

Investors are being urged to get in on the act and play their part in rolling out the cinema revolution in Saudi Arabia.

Seven movie theatres have opened in three major cities to date since the cinema ban in the kingdom was lifted, with a further 27 scheduled to open in seven cities by the end of this year.

And the General Commission for Audiovisual Media (GCAM) has called on investors looking to establish or operate cinemas in small and medium sized cities, to alert them and they will assist with operating licenses.

According to a report in Arab News, latest figures show Saudi cinemas were in third place for ticket sales in the Middle East during the second quarter of 2019.

Research from PwC, released earlier this year, estimated that total cinema revenue in Saudi Arabia is expected to reach $1.5 billion by 2030.

The forecast is based on a projected 2030 population of 39.5 million, and 6.6 screens per 100,000 people. Based on global and regional benchmarks, PwC said it expects Saudi Arabia to accommodate between 300 and 370 cinema locations.

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